Stratos Wealth Partners LTD. grew its position in KeyCorp (NYSE:KEY – Free Report) by 218.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,014 shares of the financial services provider’s stock after purchasing an additional 60,375 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in KeyCorp were worth $1,102,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of KEY. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of KeyCorp by 2.1% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 26,413 shares of the financial services provider’s stock worth $460,000 after buying an additional 540 shares during the period. Glassman Wealth Services grew its holdings in KeyCorp by 35.4% during the 4th quarter. Glassman Wealth Services now owns 2,103 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 550 shares during the period. Tyler Stone Wealth Management raised its position in shares of KeyCorp by 0.9% during the 4th quarter. Tyler Stone Wealth Management now owns 60,147 shares of the financial services provider’s stock valued at $1,048,000 after acquiring an additional 550 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of KeyCorp by 2.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,363 shares of the financial services provider’s stock valued at $424,000 after purchasing an additional 584 shares during the period. Finally, Texas Permanent School Fund boosted its position in shares of KeyCorp by 0.4% in the 4th quarter. Texas Permanent School Fund now owns 132,557 shares of the financial services provider’s stock worth $2,309,000 after purchasing an additional 592 shares during the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.
KeyCorp Stock Up 1.2 %
KEY stock opened at $10.29 on Tuesday. KeyCorp has a twelve month low of $8.53 and a twelve month high of $20.30. The company has a market cap of $9.62 billion, a price-to-earnings ratio of 5.81, a P/E/G ratio of 1.71 and a beta of 1.23. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.92. The business has a 50 day moving average price of $9.88 and a two-hundred day moving average price of $13.43.
KeyCorp Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 29th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 7.97%. The ex-dividend date of this dividend is Monday, August 28th. KeyCorp’s payout ratio is currently 46.33%.
Insiders Place Their Bets
In other KeyCorp news, insider Victor B. Alexander acquired 8,500 shares of the business’s stock in a transaction dated Friday, April 21st. The stock was bought at an average cost of $11.83 per share, with a total value of $100,555.00. Following the completion of the transaction, the insider now directly owns 117,196 shares in the company, valued at approximately $1,386,428.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Victor B. Alexander purchased 8,500 shares of KeyCorp stock in a transaction that occurred on Friday, April 21st. The stock was acquired at an average cost of $11.83 per share, for a total transaction of $100,555.00. Following the purchase, the insider now directly owns 117,196 shares of the company’s stock, valued at approximately $1,386,428.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Amy G. Brady sold 12,388 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $10.11, for a total value of $125,242.68. Following the transaction, the insider now owns 106,733 shares in the company, valued at approximately $1,079,070.63. The disclosure for this sale can be found here. Insiders have acquired a total of 85,700 shares of company stock valued at $857,507 over the last 90 days. 0.54% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on KEY shares. Morgan Stanley dropped their price objective on KeyCorp from $11.00 to $10.00 in a report on Friday, July 7th. Barclays cut their target price on shares of KeyCorp from $15.00 to $13.00 in a report on Tuesday, June 27th. 888 reissued a “maintains” rating on shares of KeyCorp in a report on Tuesday, June 13th. StockNews.com assumed coverage on KeyCorp in a report on Thursday, May 18th. They set a “sell” rating on the stock. Finally, JPMorgan Chase & Co. lowered their price target on KeyCorp from $11.00 to $10.50 in a report on Thursday, June 29th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.57.
KeyCorp Company Profile
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.
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